STI Education Systems Holdings, Inc., owner of the largest network of private schools in the Philippines, reported an 84 percent jump in net income to P1.6 billion for the fiscal year ended June 30, 2024, from the P873.8 million earned in the previous year.
In its disclosure to the Philippine Stock Exchange, STI Holdings said this growth was driven by significant improvements in student enrollment and efficient cost management across its schools.
STI Holdings said gross revenues increased by 38 percent to P4.7 billion for the fiscal year 2024 from P3.4 billion in 2023.
This growth was largely attributed to higher enrollment numbers, which resulted in a P1.2 billion rise in tuition and other school fees, totaling P4.3 billion in 2024.
For the School Year (SY) 2023-2024, enrollment rose by 27 percent to 119,543 from 94,312 in SY 2022-2023. STI Holdings’ schools also recorded a substantial 35 percent growth in new students, with 55,982 enrollees joining for the current school year, compared to 41,565 the previous year.
STI Education Services Group (STI ESG), which operates 63 campuses nationwide, registered a 27 percent increase in enrollment, with 103,982 students across its owned and franchised schools.
STI West Negros University (STI WNU) in Bacolod City, which has been granted Autonomous status by the Commission on Higher Education (CHED) on September 16, 2024, also performed well, reporting a 30 percent growth in enrollment to 13,328 students for SY 2023-2024, compared to 10,218 in the previous school year.
Meanwhile, iACADEMY, known for its focus on technology and design programs, maintained a solid presence with 2,233 enrollees for SY 2023-2024.
Enrollment in programs regulated by CHED grew by 25 percent to more than 83,000 students from 66,000 in the previous year.
Programs under the Department of Education (DepEd) also saw growth, with 34,709 students enrolled in primary and secondary levels, including Junior High School and Senior High School, a 31 percent increase from the previous year.
STI Holdings continues to invest in infrastructure development across its campuses as part of the Group’s ongoing efforts to enhance the learning environment for students and faculty.
The Group recently completed the construction of the School of Basic Education building at STI WNU, alongside the construction of new buildings in STI Ortigas-Cainta and STI Lipa and classroom expansion and renovation projects at various STI ESG-owned schools.
Additionally, STI ESG secured two key properties in Tanauan, Batangas, and South Park District in Alabang, Muntinlupa City, to house future academic centers.
The establishment of new campuses is part of STI’s long-term strategy to expand its presence in key cities across the Philippines, providing more students with access to high-quality education.